Industry News

Buffalo Wild Wings Inc. on Wednesday urged the company's board to seek "fresh talent" and criticized the way executives spend money. Richard "Mick" McGuire, founder of Marcato Capital Management, said in a letter to directors that the Golden Valley-based company's growth objectives have become muddled and that executives appear to be making decisions that aren't supported by data. His portrayal of Buffalo..."/>
Activist investor seeks 'fresh talent' at Buffalo Wild Wings [Star Tribune (Minneapolis)]
Target Corp. will spend $20 million this year to add family restrooms to the rest of its stores to appease critics who were upset in recent months by its pronouncement that transgender people are welcome to use the bathroom that aligns with their gender identity. All but 300 of Target's 1,797 stores already have private, single restrooms in addition to women's and men's restrooms. Most of the stores that don't have that option will be updated by November, and the final..."/>
Target will spend $20 million to add private restrooms to stores [Star Tribune (Minneapolis)]
Target's shelves are better stocked than ever before. It has added thousands of new grocery items. And it has rolled out new offerings such as the jazzy in-house Cat& Jack kids clothing line."/>
First sales drop in two years sends Target execs scrambling for answers [Star Tribune (Minneapolis)]
Shutterfly Inc. has roughly another year to reach a job-creation goal under a tax-break agreement that helped bring the company to Shakopee. The photo company, which opened a manufacturing plant in Shakopee in 2014, fell 28 jobs short of the 258 jobs that it agreed to create within about two years. Both the Scott County Board and the Shakopee City Council voted 4-1 this week to extend the deadline, while also reducing Shutterfly's tax abatements by 11 percent-- amounting to..."/>
Short of job goal, Shutterfly granted one-year extension in Shakopee [Star Tribune (Minneapolis)]
Staples, the nation's largest office supplies retailer, will close its store at 4601 First Ave. SE in Cedar Rapids on Sept. 10.. The 20,000- square-foot anchor store in Marketplace on 1st opened in late 2007."/>
Staples closing northeast Cedar Rapids store Sept. 10 [The Gazette, Cedar Rapids, Iowa]
Macy's in Visalia is at risk of closing due to weak sales, Morningstar Credit Ratings said Wednesday. The store is one of 28 nationwide identified by Morningstar as having sales below the company per-square-foot average-- a standard industry measure-- and at risk of being closed. Last week, Macy's said it plans to close 100 stores but did not announce which stores are on the chopping block."/>
Macy's in Visalia at risk of closure, analyst report states [The Fresno Bee]
Comcast launched a service this week that provides similar speed through existing cables. New technology allows Comcast to deliver data over traditional coaxial cables at up to 1 gigabit per second-- fast enough, Comcast..."/>
Comcast launches faster home internet in B-N [The Pantagraph, Bloomington, Ill.]
American Eagle Outfitters Inc. saw profit rise in the second quarter, with sales climbing at American Eagle Stores and at its intimates brand Aerie. Overall, same-store sales-- results that only reflect stores that have been open for at least a year-- rose 3 percent during the quarter, a slower pace compared to the 11 percent increase reported last year. Drilling down further, at American Eagle's namesake stores, sales ticked up 1 percent, but Aerie soared ahead, tallying 24..."/>
Profits rise for American Eagle Outfitters [Pittsburgh Post-Gazette]
BBX Capital Corp. of Fort Lauderdale, a company formerly part of BankAtlantic."/>
Husani-tied property changes hands for $6.75 million [Sarasota Herald-Tribune, Fla.]
Cisco Systems said Wednesday it will cut approximately 5,500 jobs in a restructuring plan as it moves toward more software and subscription services and focuses on the high-growth potential from areas such as security and cloud technologies. Cisco said the cuts, which will begin in the company's current fiscal first quarter, would amount to about 7 percent of its total workforce. Reports earlier in the day said Cisco was likely to cut as many as 14,000 jobs."/>
Cisco Systems' restructuring to cut 5,500 jobs [East Bay Times]
Cisco Systems said Wednesday it will cut approximately 5,500 jobs in a restructuring plan as it moves toward more software and subscription services and focuses on the high-growth potential from areas such as security and cloud technologies. Cisco said the cuts, which will begin in the company's current fiscal first quarter, would amount to about 7 percent of its total workforce. Reports earlier in the day said Cisco was likely to cut as many as 14,000 jobs."/>
Cisco Systems' restructuring to cut 5,500 jobs [Mercury News]
Tesla Motors sales practices, is again alleging that the Palo Alto electric automobile company is possibly in violation of California car-selling laws. In a July 22 letter to state Department of Motor Vehicles Director Jean Shiomoto, CNCDA President Brian Maas says it appears that Tesla "is engaging in one or more prohibited acts" at its Tesla Gallery inside Nordstrom at The Grove..."/>
Sacramento-based auto dealers group finds fault with Tesla site in L.A. [The Sacramento Bee]

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